USDCAD going higher
From last week price movement, USDCAD was on an uptrend at the start of the week. Now, right after monday's close i knew that USDCAD was pretty much going to consolidate for a while and then drop which has happened just as i anticipated. USDCAD has now find confluence in the mid 1.3100's and it's now preparing to go higher even taking out the previous high. I do see a descending trend line, below which price is currently trading at the moment. However i do see USDCAD breaking that trendline, retesting it and then going higher. Currently i am already in this trade, at the moment and i can possibly open another position once price has broken above the trendline.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.